KB Financial Group Opens 'Gwanak KB Innovation Hub' for Early-Stage Startups
KB Financial-Seoul National University-Gwanak-gu Mutual Cooperation
Providing R&D Space and Nurturing Programs for Early Startups
[Asia Economy Reporter Park Sun-mi] On the 8th, KB Financial Group held an opening ceremony for the second startup support center, ‘Gwanak KB Innovation Hub,’ in collaboration with Gwanak-gu and Seoul National University to discover outstanding startups and foster innovative companies.
The opening ceremony held at the Gwanak S Valley Startup Center in Sillim-dong was attended by Huh In, Head of Digital Innovation Division and CEO of KB Kookmin Bank, Kwon Chil-seung, Minister of SMEs and Startups, Jeong Tae-ho, Member of the National Assembly, Oh Se-jung, President of Seoul National University, Park Jun-hee, Mayor of Gwanak-gu, and Koo Hyun-mo, CEO of KT.
The Gwanak S Valley Startup Center is a startup space created by KB Financial and KT by bringing together their respective fintech labs to revitalize the venture and startup ecosystem in Gwanak-gu. It spans 490 pyeong across seven floors and is jointly operated by three companies. The 5th and 6th floors house the ‘Gwanak KB Innovation Hub,’ the 2nd to 4th floors are occupied by the ‘DIGICO KT Open Lab,’ and the basement 1st floor to the 1st floor above ground is home to the shared office startup ‘My Workspace.’ The three companies plan to promote networking, joint events, and publicity for resident startups through organic collaboration.
The ‘Gwanak KB Innovation Hub,’ the second such facility established by KB Financial following Gangnam, focuses on supporting early-stage startups through local venture and startup infrastructure support, fostering mutual cooperation systems such as shared knowledge and research resources, and promoting win-win development within the local community. To this end, a call for resident companies was held on May 18, targeting early-stage startups established within three years across various fields, not limited to fintech. Seven resident companies were finally selected based on evaluations of originality, innovation, and growth potential.
KB Financial plans to provide the selected resident companies with R&D space for one year, management consulting utilizing expert groups within KB Financial, business linkage with KB Financial, and scale-up investment support, offering tailored support measures necessary for each growth stage of the startups.
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Huh In, CEO of KB Kookmin Bank, stated, “KB Financial Group holds accumulated experience and know-how in fostering startups through the country’s first fintech lab, KB Innovation Hub.” He added, “By leveraging the abundant startup infrastructure and research capabilities of Gwanak-gu and Seoul National University, we will provide customized support for each growth stage of startups, including commercialization support and investment linkage.”
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